Disney’s Acquisition of Fox Finalized?

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Via EE News:

 
Today, Twenty-First Century Fox shareholders got quite a surprise. Their stock election letter came with The Walt Disney Company letterhead (see below). This comes after initial reports that Disney’s $71.3 billion acquisition of Fox was near the end, followed by weeks of media silence and no concrete date.

Last year, Disney received conditional approvals from both the European Union and U.S. regulators and was waiting from approvals from Brazil and other countries. Back in July 2018, shareholders from both companies approved all proposals related to the acquisition, but neither company gave a solid date for the close. Disney CEO Bob Iger previously stated that “it could take up to 12 months for the acquisition to close,” while President of Fox Peter Rice said to employees, “The company will be logistically ready to close on Jan. 1.”

Based on the below shareholder letter, it looks like earlier speculation about the January 1, 2019, date was more in line with the actual acquisition timeline. The Disney-Fox acquisition marks an incredible shift in the entertainment industry and there will definitely be more news about it in the coming months. Stay tuned.